Traverse City - Weekly Market Statistics - October 29, 2012

Weekly Market Statistics

       10/22/2012 thru 10/28/2012

124  New Listings

        77   Sold Listings

274  Pending

Sales By Classification

62 Residential $23,122 to $1,200,000 Median $114,450 Mean $176,846

12 Vacant Land $15,000 to $165,000 Median $34,750 Mean $60,300

3   Commercial $550 (Lease) to $575,000

Sales by Location

07 Antrim County

11 Benzie County

29 Grand Traverse County

10 Kalkaska County

17 Leelanau County

01 Wexford County

02 Outside Areas

Expired Listings     73

Year over Year Comparison for Grand Traverse County on & off water homes

Off Water Homes All Values 

 Current Listings        665

 Sales                         10/10-10/11  823  10/11-10/12  980

 Average DOM            146 or 4.9 Months

 Value Direction          Up 5.9%

 Market Activity           Up 19.1% 

 Inventory Supply        8.1 Months

Direct Water Homes All Values

 Current Listings       224

 Sales                        10/10-10/11  136  10/11-10/12  174

 Average DOM            211 or 7.0 Months

         Value Direction         Up 6.9%

         Market Activity          Up 27.9%

         Inventory Supply      15.4 Months  

The market has slowed somewhat, however typical for this time of year. Inventory levels continue to contract with values beginning to rise in some market segments. This fall is a great time for buyers, with sellers also have more opportunity that we have seen over the last several years with less competition.

As we head toward the end of the year it's never too early to start laying out a business plan for 2013. Failure to plan is planning to fail. 2013 will likely be the best year in real estate sales that we have seen since 2005-2006 so get positioned to maximize the opportunity. Have a great week.....

Sincerely,

Robert J. Reamer 

Real Estate Expert Since 1978

Certified General Appraiser

Phone:     231.649.0877

Fax:           231.333.5078

Email:       bob@teamreamer.com

Website   www.setpointptc.com

Property Tax Appeal,   Real Estate Consulting,   Real Estate Appraisal Services